The Russian Direct Investment Fund (RDIF) announced its participation in the offering of global depositary receipts (GDRs) and convertible bonds of Mail.ru Group. The investment amount has not been disclosed.

RDIF and Mail.ru Group cooperate in several areas, including AliExpress Russia joint venture. Mail.ru Group will use a portion of the proceeds from the offering to develop this JV.

The proceeds will also be used for the development and organic growth across the existing verticals of the holding and pursuing M&A opportunities.

China’s Tencent, Prosus (a division of the South African Naspers Group), and other investors also participated in the offering.

At the end of September, the company announced its plans to list GDRs and convertible bonds totaling $600 million due in 2025 on the London Stock Exchange.

Original (in Russian)